Renal Advantage sets Tuesday launch for $400 million credit facility

By Sara Rosenberg

New York, Nov. 10 - Renal Advantage has scheduled a bank meeting for noon ET at the Essex House in New York on Tuesday to launch its proposed $400 million credit facility, according to a market source.

Barclays and Bank of America are the lead banks on the deal.

The facility consists of a $50 million revolver and a $350 million term loan, the source said.

Proceeds, along with roughly $200 million of mezzanine debt, will be used to help fund the company's merger with Liberty Dialysis.

Closing on the merger is expected to occur by Dec. 31.

Brentwood, Tenn.-based Renal Advantage and Mercer Island, Wash.-based Liberty Dialysis are providers of dialysis services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.